Campbellton, Newfoundland and Labrador Real Estate Market Data
Updated: Nov 2024
House
| Median price | $485,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.6% |
Apartment
| Median price | $295,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $485,000 |
| 4 bedrooms | $570,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $240,000 |
| 2 bedrooms | $340,000 |
| 3 bedrooms | $440,000 |
Demographics
| Current Population (2025) | 15,200 |
| Previous Population (2020) | 14,500 |
| Population Change | 4.8% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Campbellton, Newfoundland and Labrador is currently experiencing steady growth. The median house price stands at $485,000, showing a year-over-year increase of 3.2%. This consistent rise in housing prices indicates a stable market that is attracting homebuyers and investors alike. Meanwhile, the median apartment price has also seen an upward trend, with a 2.5% year-over-year increase to a current value of $295,000.
The population of Campbellton has grown by 4.8%, reflecting the town’s increasing attractiveness to new residents and potential for further real estate demand. This demographic expansion can be attributed to factors such as local economic development, job opportunities, and quality of life improvements which are driving more people into the area.
Investment Opportunities and Potential
Given the positive trends in population growth and property values, Campbellton presents substantial investment opportunities. For potential investors looking at long-term capital gains, the steady appreciation in house and apartment prices could result in lucrative returns. Rental properties also offer promise due to the expanding population that may create higher demand for rental accommodations.
Additionally, as more people move to Campbellton, there will likely be an increased need for residential developments. Investors focusing on new construction or renovation projects could potentially benefit from this demand surge. With careful market analysis and strategic investment decisions, stakeholders can capitalize on the town’s ongoing growth trajectory.
Future Market Outlook
The future market outlook for Campbellton’s real estate sector appears optimistic. The consistent growth in property values coupled with robust population increases suggests a healthy market poised for sustained expansion. Should current trends continue, both house and apartment prices are expected to maintain their upward course.
However, investors should remain cognizant of broader economic factors that could impact the real estate landscape including interest rates changes, employment rates in key sectors, and government housing policies. Monitoring these variables will be crucial to making informed investment decisions in Campbellton’s property market going forward.
